The president of the Regional Government of Madeira, Miguel Albuquerque, recently announced plans to launch a business hub focused on Bitcoin. The hub aims to promote innovation and technology development in the region.
Albuquerque revealed the Bitcoin business hub during a fireside chat at the Bitcoin Amsterdam 2023 conference. He emphasized the hub will enable collaboration and highlighted its origins within the Madeira community.
Madeira, an autonomous region of Portugal, has embraced Bitcoin through policies exempting crypto investors from income taxes. Prince Filip of Serbia, who joined Albuquerque in the fireside chat, praised Madeira’s forward-thinking adoption of the digital asset.
According to Albuquerque, Madeira is shifting its economic focus toward emerging technologies like AI and crypto. The government views the new Bitcoin hub as part of its broader effort to become a hub for high-tech industries.
Madeira made waves in 2022 when it announced residents investing in Bitcoin would not pay personal income taxes related to their crypto activity. The upcoming business hub represents the next step in establishing the island as a crypto-friendly jurisdiction.
The creation of a dedicated Bitcoin center focused on driving innovation cements Madeira’s standing as one of the most crypto-progressive regions in Europe. For Bitcoin advocates, the hub offers opportunities for collaboration at the intersection of finance and technology.
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